EtherBanking - The New Way of Banking on the Blockchain

By reading this article you agree to our Disclaimer
EtherBanking - The New Way of Banking on the Blockchain


The blockchain is commonly associated with Bitcoin and deservingly so as Bitcoin was the blockchain's foremost implementation. However, while blockchain may have been popularised by cryptocurrency, the blockchain technology has dozens of applications that extend beyond digital cash.

From e-commerce to electronic voting apps, every day, more decentralized applications are being developed and deployed on the blockchain all thanks to Ethereum. Simply put, Ethereum is a blockchain based open source platform providing software developers with the tools to build decentralized apps.

What is EtherBanking?

The Ethereum community has remained committed to facilitating transactions in cryptocurrency through its applications in various industries and sectors as evidently seen, however, despite the “Ether” signature, EtherBanking was not created on the Ethereum blockchain as a token, it was developed as a stable fork from Ethereum blockchain with modifications.

But what is a fork and what does it have to do with EtherBanking?

At it´s simplest, a fork is a software update. More technically, a blockchain fork refers to a new version of the blockchain created when a development team collectively agrees to duplicate a blockchain, with the aim of offering a better version then the already existing blockchain usually by adding new functionality and making specific changes to some aspects.

So, Etherbanking is a stable fork from the Ethereum blockchain, it is an open source, peer to peer, community driven decentralized ecosystem with a wide range of products from traditional services like exchange and crowdfunding to unique ideas as to swap dead coin to the systems own cryptocurrency EBC, and much more. At first, Etherbanking was born with the sole purpose of working exactly like it´s name, a special bank which has no branch, no staff, belongs to no government, but can still fulfill all functions of a traditional bank and serve people in the most convenient way ever.

But on the way growing up, Etherbanking team has been fascinated by a variety of potential in the crypto world, and the idea of a complete ecosystem was born. The team has since, constantly and continuously launched new products to the Etherbanking ecosystem and now, with EBCexchange, EBCwallet, EBCswap, EBCfund, EBCstartup, EBCpay, EBCfiat, EBCbank, myEBC and myebcwallet, the whole crypto-world can see the core value of EBC coin towards Etherbanking Ecosystem.

On the Ethereum platform anyone with the right knowledge can create a token by themselves and launch their own ICO. This current ICO model has showed a high rate of scam and fraud as the capital raised could be managed in a single time by the project developer. Etherbanking is proposing to launch crowdfunding campaigns following the newest DAICO model through EBCstartup.

The concept of DAICO was proposed in early 2018 by Vitalik Buterin, the founder of Ethereum. DAICO is a merger word of two acronyms - DAO (Decentralized Autonomous Organization) and ICO (Initial Coin Offering). The DAICO model puts the investors in total control of the funds contributed towards the project through smart contracts to offer a low risk investment.

How does EtherBanking work?

Like already explained, EtherBanking is a fork of the Ethereum blockchain with integrated new functionality. Similar to how developers can build and run their applications on the Ethereum blockchain, individual developers and companies can develop and launch their own unique token, Dapps and smart contracts on the EtherBanking blockchain. But this is not the main focus, the vision of EtherBanking is to bridge the gap between the traditional banking operations and the world of cryptocurrency financial transactions.

So how will the EtherBanking blockchain bridge the gap between traditional banking and crypto world?

EtherBanking main focus is to revolutionise the banking industry and how people utilize banking services today by introducing EBCbank and E-smart contracts, a simple and easy way to customize and launch a smart contract to any financial service needed.

Today we utilize banks to perform our transactions, handle our money, give loans and many other services. These services we pay fees for. Etherbanking and EBCbank will eliminate the intermediaries we use today and allowing a platform where the community can act as financial provider. Meaning if a person is in need of a loan, and you have the funds to give a loan, a smart contract can be written and launched with the satisfied requirements from both parties with collateral at stake, where the loan will be granted and the loan + interest will be repaid to the initial loaner. Etherbanking in short is a digital community platform where people can connect, peer to peer, and receive or give the financial service needed executed through smart contracts.

The development team is also focused on creating a safer environment for investors through the DAICO model as we mentioned earlier. Here, the token owners can be now guaranteed of their investments in ICOs as every fund contributed towards the project by investors is held by a smart contract until a set date or goal is achieved towards the roadmap.

The funds will only be released to the project developers if a certain goal is achieved to investors satisfaction or it will be refunded back to the investors should investors not be satisfied with the development. Essentially, the EtherBanking by function of DAICO, will eliminate the possibility of scam and bring trust and transparency back to the world of ICO´s. EtherBanking is reintroducing trust and confidence to the ICO industry and blockchain technology.

The EtherBanking Coin

The EtherBanking Coin (EBC) is a decentralized, peer-to-peer, open source cryptocurrency unique to the forked blockchain. EBC was created to allow users of the blockchain store and invest their crypto assets with the possibility of earning a substantial amount of interest on their crypto investment through PoS interest. Basically, any token holder of EBC in their crypto wallet will receive a steady and stable interest of 20% yearly on their wallet balance from the network. This interest is meant to incentivise and encourage the token holders to make their crypto investments in the blockchain.

EBC has a total of 33 million coin supply, 32 million premined in the 1st block. 4 million blocks processed by the way of PoW with a reward of 0.00001 EBC / block, 20 million coins to be distributed through PoS. Anyone holding EBC in their wallet will participate in staking and earn a 20% interest yearly.

While the Ethereum blockchain community is gradually making the transition from the proof-of-work consensus system to the proof-of-stake consensus system, the EtherBanking ecosystem has elected to use both coin algorithm scripts - the proof-of-work and the proof-of-stake. By enabling the two block validation protocols to the network, the blockchain offers maximum security as PoW (proof of work) is with greater safety when transactions are not many, and PoS (proof of stake) to have faster and cheaper transactions when it will be used my many. By this way Etherbanking takes the best from both technologies.

Components of the EtherBanking ecosystem

The vision of the development team is to build the EtherBanking blockchain to become a fully decentralized bank running on smart contracts. However, it has now evolved to a lot more. The EtherBanking blockchain is a multifaceted ecosystem comprising different aspects of the banking system. Below are the main components of the EtherBanking ecosystem;

· EBC Bank

The EBC Bank will provide banking services for users. The blockchain technology will enable quicker and smarter transactions which can not ordinarily be accessed in traditional banking systems. The Bank will also offer smart and safe loans to token holders using their crypto assets on the platform as collateral. To have access to personalized financial services Etherbanking's members need to write dedicated smart contracts. This would be hard for not expert people so the Etherbanking Team has had awareness of this problem and built the exclusive E-SmartcontractTM technology. E-SmartcontractTM will be created with just a few mouse clicks on a few simple options (among thousand of available options) on mobile platform clarify the terms and penalties, just like traditional contracts. After signed, contracts are recorded on Blockchain system and become effective. E-SmartcontractTM would save thousands of billions of dollars each year which has been spent for courts and lawyers.

· EBC Wallet

The EBC wallet is an open source free wallet created to help cryptocurrency owners take full control of their crypto assets. The wallet provides a safe and secure channel through which users on the crypto community can conveniently and securely store, manage and exchange their coins with other users in the community. With the wallet, you can send and receive cryptocurrency instantly from anyone in the world at zero cost transaction fees inside the Etherbanking's ecosystem and at lowest fee when outside. The wallet is free to open and other than EBC, it also supports Bitcoin (BTC), Ethereum (ETH), Bitcoin Cash (BCH) and over 10 other established currencies.

· EBC Pay

EBC Pay will be integrated with the EBC Wallet to serve as a quick and secure cryptocurrency payment service on the EtherBanking blockchain. EBC Pay will allow for easy and direct payments through debit card (accepted in +36 million of merchants) and wallet API with partnered merchants. If desired merchants can request to exchange immediately and automatically cryptocurrencies received to fiat currencies used in their nation to avoid the risk of volatility. By debit card the member can choose which crypto to spend on the App while the merchant receives always the national fiat currency.

· EBC Startup

EBC Startup is a crowdfunding initiative on the EBC network which is being developed to provide support for start up projects in the crypto community. The funding is especially target at projects with social benefits and it is open to any individual or company in need of financial support to fund the development of their project.

The reason to use Ebc Startup to launch a DAICO campaign inside Etherbanking's Ecosystem is that it is much cheaper and easier to achieve success. Etherbanking Team sets up the necessary smart contracts and offers all the services needed, from the creation of the requested Token to the site, campaign dedicated graphic works and marketing promotion.

When a project gets success, the Token will be listed on the EBCexchange so investors can trade it for liquid money.

· EBC Fiat

The EBC Fiat will enable secure and fast transaction allowing users to conveniently buy and sell cryptos for fiat and vice versa.

· EBC Exchange

EBC Exchange is a low-latency, industrial grade and safe cryptocurrency trading platform. The exchange will not just allow for seamless and frictionless exchange of crypto for fiat, the exchange platform will also provide users with prediction tools used by professional speculators to enable them minimize risk and maximise profit. The exchange supports already about fifteen base pairs including; ETH/BTC, EBC/BTC, EBC/ETH and EBC/USDT.

· EBC Explorer

EBC Explorer is the official blockchain explorer of the EBC ecosystem. The explorer allows users on the network to explore every block, transaction and account on the blockchain. You can also use the explorer to keep track of your account balance, build your own app and token as enable by Smart contracts on the platform.

· EBC Swap

EBC Swap is a unique component of the EtherBanking ecosystem. The Swap is an application, the first of its kind in the crypto world which enables cryptocurrency holders to swap their dead, unwanted coins and some type of ERC-20 tokens at a certain ratio for EBC, the native coin of EtherBanking ecosystem. All you have to do is log into your EBC wallet, deposit the unwanted coins, chose the token or coin you want to swap and follow the instructions. The swap will be effected within 24 hours, however within this period, you will be temporarily unable to withdraw your funds to an external account. From registration to deposit to the actual swap, the process has been completely simplified by the development team to provide crypto users with a seamless swapping process.

· EBC Fund

The EBC Fund is the world's first decentralized community fund operated on smart contracts and the Blockchain technology. It is essentially a community of voluntary mutual financial supporters. There is no lender or debtor in the community, every member is entitled to the same rights and privileges as the other. The members contribute funds (in ETH) which go into helping other members of the community to achieve financial freedom. The Smart contracts helps to regulate the rules and ensure that every member is treated fairly.

Five percent of all donations to the fund pool are allocated to a reserved community share. Each time this pool reaches 100 ETH, the funds will be distributed to any token holder on the blockchain who holds 5000 EBH or more in their EBC Wallet. It is pertinent to note that EBH is different from EBC. EBH was the first token created on EtherBanking blockchain. It was developed by EtherBanking team to serve as a community token. For a user to acquire EBH, you must first of all buy EBC on the exchange and convert them to EBH at a rate 1/10. In other words, if you own 1 EBC, you can convert your holdings to 10 EBH.

Every component of the EtherBanking ecosystem is interconnected to the other with the aim of strengthening the value of EBC and promoting the EtherBanking community in general. The EBC Bank, EBC Pay, EBC Fiat and EBC Startup are still in the development phase and will be launched on the blockchain once they are ready. The EtherBanking mobile app can be downloaded and installed at the Google Play store for Android users are at the Apple Store for users on the iOS platform. With the mobile app, users can easily assess all the available services on the EtherBanking blockchain from anywhere in the world, whether it is in the convenience of their homes or while on the go.

· EBC Lotto

In this platform users can to play to games where transparency is guaranteed by smart contracts and blockchain technologies. Any partecipant can check how the system works, if the winner is paid and what the system does and what it does not.

· Myebc Wallet PRIVATE

Myebcwallet is a client – side interface website very similar to myetherwallet.

Any members can manage the same address in 3 different blockchains with the same private key (EBC, ETH or ETC). The member is the only one can has the private keys.


The primary objective of the EtherBanking blockchain is to create an ecosystem that links the crypto sphere to the traditional financial sector. The developers intend to build an Ecosystem based on blockchain technology that will provide the crypto community with new opportunities, increase customers’ confidence and provide value to every type of investor.